Builder confidence in the housing market rises as demand for newly-built, single-family homes rises. Based on a monthly survey from the NAHB, the HMI measures the health of the housing market on a point system from 0 to 100 based on three factors. The survey asks participants to rate market conditions for the sale of new, single-family homes at present, the market conditions for the sale of new, single-family homes in the next six months, and the traffic of prospective buyers of new homes.
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Source: DS News